Xiaomi’s Quarterly Profits Slump 43% Amid Memory Cost Pressures and Softening Demand

Handset margins shrink while EV ambitions deepen capital strain

Xiaomi’s management cited softening gadget demand, climbing memory chip prices and intensified competition from electric‑vehicle rivals as the reasons behind the weak performance. © Reuters

GLORIA LI

August 18, 2026 19:05 JST

HONG KONG — Xiaomi’s quarterly net profit fell by almost half, as the continent’s leading smartphone manufacturer faced a double hit from escalating component costs and declining consumer demand.

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